US Intensifies Efforts to Intercept Venezuelan Oil Tankers

The United States is escalating its efforts to intercept vessels transporting Venezuelan oil, following the recent seizure of a tanker, according to multiple sources familiar with the situation. This development marks the first interdiction of oil cargo from Venezuela since the imposition of US sanctions in 2019. The recent actions are part of a broader strategy to intensify pressure on Venezuelan President Nicolás Maduro.

The seizure occurred amid a significant military buildup in the southern Caribbean, coinciding with President Donald Trump‘s ongoing campaign to remove Maduro from power. In light of this incident, shipowners and maritime agencies involved in transporting Venezuelan crude are reconsidering their operations, with many contemplating whether to continue voyages from Venezuelan waters in the immediate future.

As the US prepares for potential further actions, sources indicate that additional direct interventions targeting vessels carrying Venezuelan oil, which may also include oil from other sanctioned countries like Iran, are anticipated in the coming weeks. The Venezuelan state oil company PDVSA did not respond to requests for comment regarding the seizure. In a response, the Venezuelan government has characterized the action as “theft.”

When questioned about future plans for ship seizures, White House spokeswoman Karoline Leavitt stated that while she could not disclose specific future actions, the US would persist in enforcing the sanctions established by the president. “We’re not going to stand by and watch sanctioned vessels sail the seas with black market oil,” she emphasized, highlighting concerns that the proceeds from such activities could support narcoterrorism and other rogue regimes globally.

The US has compiled a target list of additional sanctioned tankers that may be subject to seizure. A reduction or halt in Venezuelan oil exports, which are crucial to the revenue of the Maduro government, would significantly impact its financial stability.

Focus on the Shadow Fleet

The new US strategy includes a focus on what is referred to as the “shadow fleet,” a network of tankers that transport sanctioned oil to China, the largest buyer of crude from both Venezuela and Iran. It has been reported that a single vessel may operate on behalf of multiple countries, including Iran, Venezuela, and Russia.

In parallel developments, Russian President Vladimir Putin reaffirmed his support for Maduro during a phone conversation on November 25, 2023. During this conversation, Putin underscored the importance of protecting Venezuela’s national interests amid increasing external pressure.

Meanwhile, reports surfaced that Belarusian President Alexander Lukashenko had reached out to Maduro, suggesting that he might seek refuge abroad. In a call on November 21, Maduro indicated a willingness to leave Venezuela, contingent upon receiving full legal amnesty for himself and his family. Lukashenko, in a recent meeting with the Venezuelan ambassador to Moscow, expressed that Maduro would always be welcome in Belarus.

The Trump administration has consistently refused to recognize Maduro as Venezuela’s legitimate president since he assumed office in 2013. Maduro’s claim of victory in last year’s elections has been dismissed as fraudulent by the US and other Western governments, while independent observers reported significant support for the opposition.

As the situation continues to evolve, the international community remains watchful of the implications of US actions on both Venezuelan politics and global oil markets.